On July 6, Hut 8 rose 8.37% in regular trading, trading at $107.57/share, with turnover of $72.71 million. The stock is rebounding sharply after falling over 8% last week when Meta reportedly announced plans to build a cloud infrastructure business selling AI computing power and model access rights.

The broader AI compute rental sector is staging a collective recovery, with IREN up over 5%, NEBIUS, WhiteFiber, and Oracle up over 3%, and CoreWeave and Bitdeer also gaining. Meta's planned entry into the cloud services market — competing directly with AWS, Microsoft Azure, and Google Cloud — had triggered widespread selling across compute-as-a-service providers last Thursday.

The short-term shock appears to be digesting as market participants reassess the competitive threat. Hut 8 has been aggressively transforming from a cryptocurrency miner into an AI data center developer, having signed a $9.8 billion, 15-year AI data center lease agreement and completed over $7.5 billion in project-level financing for its Beacon Point and River Bend campuses.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)